Ultimate Guide to Syndicate (SYNX) Coin: Wallet Setup, Staking, Masternode Setup, etc

An Introduction:

For those of you new to Syndicate (SYNX) this is the guide for you. It will give you a basic rundown of how to set up your wallet, start staking your coins for passive cryptocurrency income, and also point you to setting up a masternode if you wish to do so. Technically, this article is mostly geared towards cryptocurrency newbies, but there have been a few growing pains with SYNX. This guide aims to correct any potential issues so you can get into this coin hassle-free.

Syndicate aims to bring business/asset management to the blockchain. Syndicate was launched in July of 2016 and is a fork of TransferCoin (TX), which is actually a fork of DASH (formerly known as DarkCoin). This is why you actually see many of the same features (ie Mixing, InstantSend) in SYNX. I’ve not tried either, so I can’t say how well they work or not. Regardless, transactions are cheap and fast with SYNX!

Originally this project was abandoned by the original dev(s). Over the past several months, the “new” dev team hasn’t released any updates to the code and simply getting in touch with them seemed to be impossible. Yet again, it seemed the project was abandoned. Enter the new team. So far, made up of several coders, a marketer and a graphic designer, designing a new logo. The above logo was one such design. Wallet updates are coming soon, along with a new website. Syndicate has finally been properly revived, and that’s what is getting people excited.

Perhaps the most attractive features of Syndicate right now, are the fact that you can stake the coins in your wallet for passive income, or even run a masternode. This requires 5000 coins, but SYNX is still cheap, and this is why many have chosen to jump into this coin and start a node of their own. Just look at the profitability of DASH masternodes!

We’ll talk more about this later. 🙂

As for buying SYNX: 

Syndicate is currently available for trade on Bittrex and Cryptopia.

Bittrex -> https://bittrex.com/Market/Index?MarketName=BTC-SYNX

Cryptopia -> https://www.cryptopia.co.nz/Exchange/?market=SYNX_BTC

 

Wallet Download and Setup:

The most recent version of the official Syndicate wallet has issues with freezing. It does technically function, but this problem can become quite frustrating. Thankfully, a community member (ree) released a fixed version of v1.0.0.7  wallet that does not have this problem.0

Download it by clicking here!

Just unzip the folder and run the install file. Syndicate will be installed to:

Local Disk -> Users -> (Your User) -> AppData -> Roaming -> Syndicate

TIP: If you haven’t enabled Windows to show hidden folders, you won’t see the AppData folder under your user. You can enable Windows to show these folders, but for the quickest way, just type ” %appdata% ” (without the quotations) into the Windows search, and you’ll be able to access it easily.


NOTE: Many users seem to have issues with properly syncing the blockchain, so here is the solution. I’ve uploaded a peers.dat file here containing many active nodes, as well as the entire SYNX Blockchain for your convenience, along with the database files so your wallet can properly read the blockchain. All these files are in the zip file at the MEGA link that is below. These files courtesy of Aziz, a member of the SYNX community!

Syndicate (SYNX) Full Blockchain Download (MEGA)

The easiest way to do this is… Start up the wallet for the first time. Now close it. Now open your Syndicate directory and delete everything inside. Yes, everything. That is, provided you haven’t put coins in yet, which means you want to save the “wallet.dat” file you see. Next…

Go to the downloaded zipped blockchain folder, right-click “extract”, and then one again find your Syndicate directory. Extract these directly into the Syndicate directory, so that just the files “blk0001.dat”, “peers.dat”, and the folders “database” and “txleveldb” remain. 

You are now ready to start up your wallet!

Remember, the blockchain file above is over 500MB (300MB+ when compressed), along with the database files which are several hundred MB more. However, it is much quicker to manually download it than to download the entire chain through peers alone. Again, unzip these files right into “Syndicate” directory, after having deleting everything that was there. Start up the wallet again, and you should be set with a synced wallet.

“But I still don’t have any peers!”

ALTERNATIVELY: You can simply use the “addnode” command in the SYNX console. “Help” -> Debug Window -> Console… Just copy all of the below strings of text right into the console and hit enter, you should see a string of green entries. See if you’re able to get some active connections. But even still, I recommend downloading the blockchain yourself from the link above to massively speed up syncing regardless.

addnode 45.32.163.18:9999 add
addnode 45.76.233.129:9999 add
addnode 45.76.34.135:9999 add
addnode 45.76.87.245:9999 add
addnode 45.76.23.132:9999 add
addnode 45.76.251.6:9999 add
addnode 45.76.179.109:9999 add
addnode 45.76.232.29:9999 add
addnode 45.76.134.163:9999 add
addnode 45.76.140.201:9999 add
addnode 45.32.203.165:9999 add
addnode 45.76.233.229:9999 add
addnode 144.217.7.160:9999 add
addnode 149.56.13.109:9999 add
addnode 192.99.58.134 add
addnode 137.74.163.67 add
addnode 45.76.235.245:9999 add
addnode 45.77.4.90:9999 add

If you don’t see any active connections, restart the wallet and give it a few minutes. After a while, you should see active connections and be good to go!

Anyway… Hopefully at this point, you are actively connected to the SYNX network and you’re all caught up on the blockchain. If so, this is probably the time when you’ll want to encrypt your wallet to protect your coins. In the Syndicate Wallet…

“Settings” -> Encrypt… And put in a password. Be sure not to lose it!!

NOTE: You should back up your wallet file as well. “File” -> “Backup Wallet” -> Save it wherever you’d like and keep it safe!! Also note that this wallet file only contains your private keys/address that exist at the time of backup. Creating new addresses containing coins will mean you need to backup another new wallet file. If you don’t, those new addresses/coins will be lost if you needed to restore your wallet!! This is NOT something to neglect!!

To restore your wallet, you would just take the backed up “wallet.dat” file, and drop it into a new install of the Syndicate wallet. Again, this is the file that contains the keys for your addresses! If you changed the name of the file and are now restoring your wallet, simply change its name back to “wallet” and it should automatically have the “.dat” extension. You should be able to start your wallet with the balance as it was.





How to Stake With the Syndicate Wallet:

Staking SYNX for passive income is probably the coin’s most attractive feature, and it’s dead simple to do! Hopefully you’ve completed the previous step, are actively connected to the Syndicate network, and are all caught up on the blockchain. Now…

Just send some coins to any of your Syndicate Addresses. BE SURE not to send exactly 5000 coins, as this is reserved for a masternode and the wallet doesn’t seem to like this.

After doing this, you must wait for 300 network confirmations (about a few hours or so) for your coins to “mature”. After this happens, you’ll need to unlock your wallet for staking up top.

NOTE: The wallet won’t let you do this unless you’ve already encrypted it. So encrypt it first, then unlock if for staking as described below.

“Settings” -> Unlock Wallet – Put in your password. I’d recommend keeping “unlock for staking only” checked. This means that you’re allowing the wallet to stake, but every other action (ie sending coins) will need your password again. A little tedious sometimes, but much more secure… Better safe than sorry!

When properly staking, you will see the white lightning bolt lit up in the bottom right corner of the wallet, as shown below. Enjoy your staking rewards! 😉

Of course, the more coins you’re staking, the more rewards you’ll receive, but it always varies depending on current “network weight” and so on. I’d recommend at least a couple thousand SYNX for staking, given current price. Personally, I don’t see 25 cent SYNX lasting for all that long.

 

 

NOTE: Staking coins requires you to leave your computer ON with your wallet OPEN. If you close the wallet, shutdown etc, you will need to re-enable staking when starting the wallet up again.


 

Syndicate Masternode Setup:

Again, a huge point of attraction towards SYNX is the ability to own a masternode for passive income. Even better, Syndicate masternodes have a great ROI and are dirt cheap for what you’re getting. For just $1,000 USD (5000 SYNX at 20 cents per coin) you can own one of these nodes and at the minimum, double your money in a year’s time. However, most of us are banking on price going way up, so naturally this will make your ROI % much better. If you plan on owning a masternode, the time to invest in 5000 SYNX is now. If you can’t afford 5000, buy what you can and stake until you have enough!

However… It should be noted that staking a similar amount of coins (about 5,000 SYNX) will yield similar payouts to owning a masternode, at least for the time being. For this reason, I actually don’t necessarily recommend bothering with setting one up now. Likewise, you’ll typically need a virtual private server, which is going to cost you a little money. The amount is low and will pay for itself, but staking is a no-brainer. Setting up a masternode isn’t necessarily.

But if setting up a masternode is something that piques your interest and is something you’d like to do yourself, check out his guide by community member Markus! He makes setting up a masternode yourself much easier and far less confusing!

https://cloudminingprofit.com/setup-syndicate-masternode-synx-masternodes/

 

IF YOU ARE NOT CONFIDENT in setting up the masternode yourself, there are other options. I opted to use Nodeshare.in. They set up the server and do the heavy lifting for you! They are a little bit more expensive than running your own VPS (virtual private server) through Vultr for example. But remember that you’re paying for their services and not having to deal with potential technical headaches. I’ve used them along with many other community members. They also help you host masternodes for many other coins as well.

Again, the website is nodeshare.in.

Fast setup, fast responses and so on. I really can’t recommend them enough!


Any other comments, questions, concerns..?

We are an active community and we have many members who are happy to help with any issues you have, or any questions you may need to ask! I do hope this guide answered most of the questions and or issues you may have. If not, shoot us a message in the Syndicate Telegram and we’ll get you where you need to be! Link below.

https://t.me/syndicateLTD

A Slack is coming soon too! But do feel free to comment below this article as well! I’ll try to help you out myself, but I am much more active on the Syndicate Telegram currently, so that’s that’s the place to find help.


Thanks for Reading!

 

We really hope you’ve enjoyed this article/tutorial. If you did, definitely consider donating any of the cryptocurrencies below (especially SYNX)! 😉

We’d really appreciate it, and it would make us ecstatic to know that you support our work! Cheers!

Bitcoin: 13wGzcAWtxPcvKL4vcrwyqZfrM3E2B43NV

Ethereum: 0x8E121CC6E47a093A528B0dc4E9097D9Bd7D68634

Litecoin: LcbZaMUQbaPWzYkcYez8hoG5oyA1xhWaqf

Monero:4BrL51JCc9NGQ71kWhnYoDRffsDZy7m1HUU7MRU4nUMXAHNFBEJhkTZV9HdaL4gfuNBxLPc3BeMkLGaPbF5vWtANQp7FjPvfC3w3NpKFm2

ZCash: t1UPLkB1CWJpUeCcwEqJD4DSCfvvVwBX3hD

DASH: XshZXdBWQ5ekYAmVTmAomsu5vHv9qV6KZ5

SYNX: SQ8SiJTDKLZBvKCzNkwSJkvqFZhpKKdMh1

NEO: Ac64ENqzEkYSG4z1qQaKrouDDuEjzo8iT2

 

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Follow the link below and enter our referral code for a 3% discount on ALL OF YOUR PURCHASES at Genesis Mining! (Note, you must use the code on each new checkout order).

Use code “uUSf48” at checkout at the link below for your 3% discount! We get rewarded when you do this as well, so we would really appreciate it!

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How to Claim NEO Gas For Passive Cryptocurrency Income! (Full Guide/Tutorial)

This is a great time to get in on many cryptocurrencies. One such coin being NEO. It has aimed to be the “Ethereum of China”. Just like Ethereum, it offers the ability for developers to create smart contracts, as well as digital “tokens” for new projects. One such upcoming project is the Red Pulse ICO, which aims to give a glimpse into Chinese financial markets. There are other ICO’s coming up on the NEO platform, but for now they have pretty much all been postponed due to potential Chinese regulations on ICO’s.

Anyway, all of that aside, something nice about NEO is that is is already essentially Proof of Stake. NEO generates gas which is kind of like Ether on the Ethereum network. Technically, Ethereum isn’t meant to be a currency per se, but rather, Ether is supposed to be used as “gas” to run these smart contracts. NEO is different, in that owning NEO generates gas on the NEO blockchain. Ethereum will soon become Proof of Stake as well and no longer require GPU mining to “print”, but I digress.

So you’re asking yourself… “If my NEO generates gas, how do I claim that gas? Can I sell it?” The answer is yes, and we’ll show you right now, the simplest ways to claim your NEO gas. Here goes!

 

1. The NEON Wallet:

An independent team of developers known as the “City of Zion” have developed an excellent “Lite” wallet for NEO. A lite wallet does not require the full download of a coin’s blockchain, which can take many, many gigabytes of data, and often several days to download. Likewise, it requires you to sync each time you open the wallet. A lite wallet uses an external server to quickly sync you to the network, without all the hassle. The great thing about NEO’s “NEON” wallet, is that it lets you claim your gas with one click. Using the full NEO wallet, claiming gas is not particularly complicated, but it is a bit technical and will likely put off newbies. This is why I recommend the NEON wallet and use it myself. The GitHub download link is below. Just scroll down the page a bit, and you’ll see the installation files.

https://github.com/CityOfZion/neon-wallet/releases

neon wallet github download screenshot

 

Go through the install as normal. Now, simply create a new wallet via the interface.

 

neon create a new wallet screenshot

 

After clicking the above option, you’ll see the following. Now… Pick a strong password that you will also never forget. Of course, write it down somewhere, whatever you need to do to keep it secure.

 

neon wallet key screenshot

After putting in your passphrase, you’ll see some information. Up top, the passphrase you just put in. Down below, your public key (the address you send NEO to and from), your encrypted key, and your private key. Your passphrase, encrypted key, and private key, are the pieces of information you want to never lose. As you can see, you can save this information in an encrypted file. Name it whatever you want. “Wallet 1” or something like that works just fine. Ideally, this wallet file should be saved offline, in multiple locations. But remember, lose this information, and you lose your funds.

This file be stored in…

Local Disk -> Users -> (Your User) -> AppData -> Roaming -> Neon -> Storage -> “Keys.json”.

That is the file you want to keep safe. It is encrypted and requires your password to unlock and use, but best to use good practices for your own security. And remember, adding new “wallets” to NEON, you will need to back up this file again for that new data to be part of this file. If you don’t, you could lose everything!! Note: If you can’t see the “AppData” folder, you’ll need to set Windows to access “hidden files and folders”. Guide is below!

https://support.microsoft.com/en-us/help/14201/windows-show-hidden-files

 

UPDATE: Go to “Manage Neon Settings” in the main NEON menu, and you’ll see an option to easily back up your keys. Save this file where you’d like, and keep it safe!

 

Now that you’ve made your wallet, hit “login using a saved wallet”, select your wallet from the dropdown, and enter your password. Boom, you’re in! This is how you’ll access your wallet from now on.

neon wallet login screenshot

 

Now that wasn’t so hard, was it? If you’re new to cryptocurrencies, setting up a wallet may seem daunting, but you’ll get used to it! Don’t give up! 🙂

So how do you claim your gas? Well, check this out. Just send NEO to your public address as highlighted at the top of the screenshot below… Wait for it to generate some gas… And boom, hit “claim gas”! Yep, that’s it. You can now easily collect your “dividends” from your NEO holdings! Of course, I don’t have any NEO in this particular wallet, but this is how things will look, and any NEO you have in your wallet will generate this “gas”.

neon wallet how to claim gas screenshot

 

But now you want to send your gas to sell. Here’s the deal. Only Binance exchange allows you to sell your gas right now, and only for Bitcoin. You’ll need a decent amount of NEO to make any real money on these dividends, and there are actually much better coins for passive income. More on this later.

When sending your gas, simply put in your gas deposit address from Binance, and highlight the amount of gas you have within the wallet. Oh, and be sure to toggle “GAS” as the asset you are sending, as shown below. And that’s it. Hit “Send Asset” and you’re done. You’ll see your gas on your Binance account in only a few minutes, often less.





2. Binance Exchange Gas Distribution:

This is definitely the easier method of the two, but also less secure. As any veteran cryptocurrency investor will tell you, keeping your funds on an exchange is not very wise. Remember, the massive hack of Mt. Gox is what led to the great Bitcoin Crash of early 2014. No need to get anxiety over leaving a few bucks on an exchange, but you should never, under any circumstances, be keeping any amount you are not willing to lose, an an exchange. Also, make sure that you enable 2-factor authentication on the exchange and use a different password for the email address you used to sign up, and your Binance account. These are some ways to mitigate most risk of your funds being stolen. But remember, nothing is ever 100% safe. Another thing is that when using an exchange, they hold your private keys, and to an extent, your at their mercy. If the exchange is down, you won’t be able to get your funds, if at all, in the case of the exchange closing down for example. Be careful! Anyway…

Just buy some NEO on Binance, leave it on the exchange, and gas will be distributed to your account once a day. Yes seriously, that’s it. Just leave your NEO on Binance, and receive your gas payments. It’s that simple. Do whatever it is you need to do to get funds onto Binance, and buy away! Binance link is below.

https://www.binance.com

 

So… How Much Gas Will You Earn?

Truth be told, NEO is actually not that great for passive income. For example, I have almost 600 NEO and only receive a little under .20 GAS every 24 hours. Right now, NEO GAS is at a measly $10. So that’s only $2 per day of income, for over 10,000 in NEO holdings at the moment. Not much. However, remember that NEO has a lot of room to grow. The passive income NEO offers should not be the main appeal of this platform, but rather a bonus to an already impressive technology. If you invest in 100 NEO (currently about $2,000 at $20 USD per NEO), you’ll only get about .03 GAS per day. But again, NEO has a ton of room to grow, and at some point, it will be at the current price of Ethereum. Figure at ~$300 NEO, gas will likely be at least about $150. Multiply that by your 100 NEO’s .03 gas per day, and that’s just about $5 a day. Still low, but you’ll have made a ton of money. But again, NEO has actually been falsely represented as a great passive income earner. While it has potential at a massive price, we won’t see this for a while. If you like NEO, invest now. You’ll likely make a big return. But don’t invest in it strictly for passive income. It just isn’t worth it in my honest opinion.

If you are interested in cryptocurrencies that are MUCH better at earning you passive income, stick around. I have an article coming soon on some coins I’ve invested in, and have had the best returns on! 😉

 

Thanks for Reading!

 

We really hope you’ve enjoyed this article/tutorial. If you did, definitely consider donating any of the cryptocurrencies below! We really appreciate it, and it would make us ecstatic to know that you appreciate our work! Cheers!

Bitcoin: 13wGzcAWtxPcvKL4vcrwyqZfrM3E2B43NV

Ethereum: 0x8E121CC6E47a093A528B0dc4E9097D9Bd7D68634

Litecoin: LcbZaMUQbaPWzYkcYez8hoG5oyA1xhWaqf

Monero: 4BrL51JCc9NGQ71kWhnYoDRffsDZy7m1HUU7MRU4nUMXAHNFBEJhkTZV9HdaL4gfuNBxLPc3BeMkLGaPbF5vWtANQp7FjPvfC3w3NpKFm2

ZCash: t1UPLkB1CWJpUeCcwEqJD4DSCfvvVwBX3hD

DASH: XshZXdBWQ5ekYAmVTmAomsu5vHv9qV6KZ5

SYNX: SQ8SiJTDKLZBvKCzNkwSJkvqFZhpKKdMh1

NEO: Ac64ENqzEkYSG4z1qQaKrouDDuEjzo8iT2

 

Genesis Mining Discount

Follow the link below and enter our referral code for a 3% discount on ALL OF YOUR PURCHASES at Genesis Mining! (Note, you must use the code on each new checkout order).

Use code “uUSf48” at checkout at the link below for your 3% discount! We would really appreciate it!

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Opportunities for FREE Cryptocurrency! (September 2017)

So once in a while, some great new ways to get into cryptocurrency come along. And no, I’m not talking about faucets. Now sure, faucets can be fun, but you won’t be getting rich off of them anytime soon. No, this is much better.

There are few ICO’s offering absolutely free tokens! The two that I am personally aware of right now (as of September 3rd 2017), are WCX and Authorship. We’ll give you the rundown of what each of these projects plan to do.


 

wcx-wcex-cryptocurrency-exchange-logo-ico

WCX is an upcoming decentralized cryptocurrency exchange being built by a team of developers from Apple, Deutsche Bank, and IBM. There are several cool things you should know about. First, their fees will be 10x lower than the industry standard. Likewise, their exchange will be able to handle an incredible million trades per second. This kind of precision is what many of us have been looking for in an exchange, and it will finally become a reality.

All of this is great, but this is the part I think you’ll love the most. WCX is offering its own tokens, which will essentially act as shares in the exchange. 20% of all fees on the exchange will be paid as dividends to WCX token holders. Right now, you can get over $5 in free WCX tokens JUST by using my referral link below. Likewise, we both get some awesome benefits. For one, I’ll get an extra 50 tokens for referring you, as well as a 5% bonus based on any WCX tokens you buy. But the benefits you will see are much bigger. Signing up via my referral link will give you a huge 15% bonus on all WCX tokens you buy. So, buying 1000 tokens via the ICO will give you an extra 150 tokens as a bonus! Right now, they are running a high-volume presale, but the full ICO begins October 1st. However, the closed beta is happening right now, so WCX does have a working product.

Sign up now using my referral link, and after doing that, use your own referral link to get your friends to sign up. We all get a share in this awesome new exchange, and we will begin building true passive income over time! So what are you waiting for? Sign up at the link below!

https://wcex.co/?ref=SerpeAi





authorship-ico-referral-75-free-tokens-ethereum-logo

Next up is Authorship. This asset aims to turn the book publishing process upside down! Simply, it will make the process of publishing, editing, and translating, expedited through the blockchain. Now I’m not much a “book reader” per se. Most of my reading consists of online news and the like. However, those who do enjoying reading should certainly find the publishing process being expedited via the blockchain extremely innovative. If you sign up using the referral link below, we each will receive 75 FREE Authorship tokens. That is over $10 worth of Authorship at the starting price.

Now remember, the Authorship ICO started over two weeks ago (August 15th), and ends less than two weeks from now. That is, September 14th. So if you plan to get your free tokens, or even invest, you’re better off just doing it now. This is a project that I do personally believe in, and I have invested some ETH into myself. But by using my referral link below, you have nothing to lose, and a whole lot to gain. Remember, after signing up, tell your friends about it and get some Authorship referrals for yourself!

http://bounty.authorship.com/ref/N8211271


We really hope you enjoyed this article, as well as learned a couple things along the way. We’re glad we could pass along a couple of opportunities for free cryptocurrencies. Given the way the cryptocurrency world has boomed in the last several months, it would be foolish to turn down free cryptocurrency!

As always, we appreciate your support as well as your donations to our project! Good luck, and have a great and prosperous day! 🙂

Donation Addresses:

Bitcoin:   13wGzcAWtxPcvKL4vcrwyqZfrM3E2B43NV

Ethereum:   0x8E121CC6E47a093A528B0dc4E9097D9Bd7D68634

Litecoin:   LcbZaMUQbaPWzYkcYez8hoG5oyA1xhWaqf

Monero:   4BrL51JCc9NGQ71kWhnYoDRffsDZy7m1HUU7MRU4nUMXAHNFBEJhkTZV9HdaL4gfuNBxLPc3BeMkLGaPbF5vWtANQp7FjPvfC3w3NpKFm2

ZCash: t1UPLkB1CWJpUeCcwEqJD4DSCfvvVwBX3hD

DASH: XshZXdBWQ5ekYAmVTmAomsu5vHv9qV6KZ5

Save Money on Genesis Mining!

Another way to support our work is to simply put in our affiliate code at checkout at Genesis Mining. You’ll receive a cool 3% discount on all contracts you put this code into, and we get a small affiliate kickback based on whatever you purchased. It’s a win-win for both of us!

Just head to the link below and put in code “uUSf48” at checkout for your 3% discount!

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